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Maintain active involvement of State Owned Enterprises (SOEs) within the mining sector

In Progress

Ten gold miners to buy into Fidelity Printers


Aug. 3, 2021

Ten companies have agreed to pay $49 million to take 60% of Zimbabwe's sole gold refiner and exporter, now owned by the central bank.

Previous Updates

Cabinet approved the Greater Chinhoyi Copper Development Programme


July 13, 2021

Cabinet approved the Greater Chinhoyi Copper Development Programme which entails six copper projects becoming operational by 2023.

Two Joint Venture Projects Approved by Cabinet


July 13, 2021

The two projects approved at Cabinet are for joint ventures between ZMDC and: Govine Enterprises over Shamrock Mine in Hurungwe which will reopen by the end of 2022 employing an estimated 4 500 people and generating US$32 million per annum; Hongua International over Angwa mine and the Chidzikwe dump which will be operational by mid 2022 employing an estimated 400 people, generating an estimated US$33 million per annum.

Kuvimba Mining House paid US$5,2 million dividend


June 23, 2021

Kuvimba Mining House (KMH) paid an inaugural US$5.2 million dividend to Government and other local shareholders following a positive performance during the financial year ended 31 March 2021

Approval of the proposal for a joint venture between the Zimbabwe Mining Development Corporation and Fossil Mine



March 30, 2021

Cabinet considered and approved the proposal for a joint venture between the Zimbabwe Mining Development Corporation and Fossil Mine for graphite mining under contract at Lynx Mine, which was presented by the Chief Executive Officer of the Zimbabwe Investment and Development Agency.

Government in partnership with foreign investors



Dec. 19, 2020

Government, in partnership with foreign investors, has come up with a strategy to take the lead in driving investment in the mining sector following the establishment of Kuvimba Mining House. Government has a 65% shareholding. Government also plans to use profits from a mining venture to help settle the $3.5 billion compensation claim from white farmers.

ZMDC and partner to mine Umzingwane alluvial gold

The Chronicle


June 23, 2020

THE Zimbabwe Mining Development Corporation (ZMDC) and Head Heart Enterprises (Pvt) Limited have engaged a local environmental consultant to conduct an Environmental and Social Impact Assessment (ESIA) for the proposed alluvial gold mining operation in Umzingwane, Matabeleland South province. The planned mining project is a joint venture between ZMDC, a Government-owned mining company and Head Heart Enterprises (Pvt) Ltd, a private investor. According to the consulting firm, BUMIRA Environmental Consultants, which is set to undertake the ESIA for the mining project, the mining operation will be established on an estimated 895,4-hectare piece of land in Umzingwane District on the confluence of Umzingwane and Nyankuni rivers about 110 kilometres from Bulawayo off Zvishavane-Filabusi Road.